Bright Rock Capital Management LLC Acquires Shares of 10,500 BlackRock, Inc. (NYSE:BLK)

Bright Rock Capital Management LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,500 shares of the asset manager's stock, valued at approximately $9,938,000. BlackRock accounts for about 2.1% of Bright Rock Capital Management LLC's holdings, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at approximately $26,000. Investment Management Corp VA ADV acquired a new stake in BlackRock during the fourth quarter worth approximately $30,000. Compass Planning Associates Inc purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $33,000. Synergy Investment Management LLC purchased a new position in shares of BlackRock during the fourth quarter worth about $40,000. Finally, Curio Wealth LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Trading Down 1.7%

NYSE:BLK traded down $17.01 on Friday, reaching $971.24. The stock had a trading volume of 674,277 shares, compared to its average volume of 689,208. The firm's fifty day moving average is $934.71 and its two-hundred day moving average is $972.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company has a market cap of $150.47 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 12-month low of $759.99 and a 12-month high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the business posted $9.81 earnings per share. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's dividend payout ratio is currently 50.63%.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the transaction, the director now owns 66,034 shares in the company, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. TD Cowen dropped their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Bank of America lowered their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reduced their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,082.46.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.